Hedera's HBAR token is testing a crucial support level at $0.21, following a 2% price decline over the past month. Whale investors have significantly increased their holdings, adding approximately 127.8 million HBAR, valued at $26.8 million, in the last 48 hours. This activity has raised the number of addresses holding over 10 million HBAR from 129.18 to 130.96, and those with over 100 million HBAR from 38.46 to 39.56 since October 6.
The current price of HBAR is $0.2208, and a breach of the $0.21 support could lead to further declines, potentially targeting $0.20 and $0.19. However, the recent buying pressure has helped HBAR break out of a three-month consolidation phase, with the Bull Bear Power indicator turning positive. Additionally, there is growing optimism about a potential HBAR ETF listing, with expectations of SEC approval following the government shutdown.
Hedera HBAR Faces Key Support Test Amid Increased Whale Activity
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